Question: 1.1. Xena is a software program produced by Xenoid. Each year Xenoid produces an upgrade that costs $300 000 to produce. It costs nothing to

1.1. Xena is a software program produced by Xenoid. Each year Xenoid produces an upgrade that costs $300 000 to produce. It costs nothing to allow customers to down-

load it from the company's website. The demand schedule for the upgrade is shown in the accompanying table.

a. What is the efficient price to a consumer of Price of Quantity of this upgrade? Explain your answer.

upgrade upgrades demanded

b. What is the lowest price at which Xenoid

$180 1700 is willing to produce and sell the upgrade?

2000 Draw the demand curve and show the loss 150 of total surplus that occurs when Xenoid 120 2300 charges this price compared to the effi-

90 2600 cient price.

0 3500 Salut

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